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Real estate businesses welcome tax credit for homeowners and first-time buyers

Josh McCann
Nov 07, 2009 (The Island Packet - McClatchy-Tribune Information Services via COMTEX) --

An extended and expanded tax credit for some home buyers should help the area real estate market -- and the entire local economy -- recover from the recession, Beaufort County real estate agents said.

First-time home buyers have been eligible for tax credits of up to $8,000 since January as part of the economic stimulus package. With that program scheduled to expire Dec. 1, Congress voted to extend it into the spring -- and include people who already own homes. President Barack Obama signed the bill Friday.

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